BUSINESS

Fed Stuck With BILLIONS In Mortgage Securities

09/22/2010 05:12 am ET | Updated May 25, 2011

A wide range of economists say the Fed's program -- so big that purchases outstripped the issuance of new securities in some months -- helped to preserve the availability of mortgage loans and helped to hold interest rates near record lows. Rates that exceeded 6 percent in late 2008 remain below 5 percent today.

But the Fed now must deal with the cleanup.

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